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3 star

L&T Ultra Short Term Fund - Direct Plan


Debt: Ultra Short Duration

1 Lakh

Investment Grown to
₹ 1.07 Lakh

₹ 10000

Monthly SIP Grown to
₹ 1.24 Lakh

Suitability:

Ultra Short Duration debt funds invest in bonds maturing in 3 to 6 months' time. They aim to earn slightly better returns than what you can get from a bank account or a short duration fixed deposit. The risk of incurring a loss in these funds is negligible but they do not guarantee returns or safety of capital.

Retail investors can avoid these funds altogether. Here's why. Debt funds are very finely classified depending upon the maturity of the bonds they invest in. For instance, there's a different category of funds that invests in bonds of up to 3 months maturity, from the one that invests in bonds maturing in 3-6 months, and so on. We believe that such a nuanced classification adds little value to retail investors. They can avoid this complexity and simply invest the money they don't need for up to the next one year in a Liquid fund.

Taxability of earnings:

Capital gains

  • If the mutual fund units are sold after 3 years from the date of investment, gains are taxed at the rate of 20% after providing the benefit of inflation indexation.
  • If the mutual fund units are sold within 3 years from the date of investment, entire amount of gain is added to the investors' income and taxed according to the applicable slab rate.
  • No tax is to be paid as long as you continue to hold the units.

Dividends

  • Dividends paid by the mutual fund scheme are taxed at the rate of 25% (effectively 29.12%, including surcharge and cess). This is known as Dividend Distribution Tax (DDT).Though the investor does not pay this tax directly, it is deducted from the dividend income before passing on to the investor.

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(₹)
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Trailing Returns (%)

YTD 1-Day 1-W 1-M 3-M 6-M 1-Y 3-Y 5-Y 7-Y 10-Y
Fund 4.08 0.00 0.10 0.56 2.26 3.83 7.45 7.57 7.93 8.37 --
CCIL T Bill Liquidity Weight 2.06 0.00 0.04 0.22 0.84 1.94 3.85 4.13 4.32 4.69 --
Debt: Ultra Short Duration 3.77 0.01 0.12 0.80 2.14 3.51 7.23 6.63 7.25 8.13 --
Rank within category 8 22 15 19 9 7 10 5 6 5 --
Number of funds in category 27 28 28 28 28 27 25 16 16 14 0

As on 14-Jul-2020

Peer Comparison

Fund name Rating Launch Date 1-Year Return 3-Year Return 5-Year Return Expense Ratio Assets (Cr)
L&T Ultra Short Term Fund - Direct Plan  | Invest Online
3 star
Jan-13 7.45 7.57 7.93 0.23 1,960
Aditya Birla Sun Life Savings Fund - Direct Plan  | Invest Online
5 star
Jan-13 8.30 7.96 8.32 0.33 11,830
SBI Magnum Ultra Short Duration Fund - Direct Plan  | Invest Online
4 star
Jan-13 7.64 7.78 7.68 0.33 9,750
Kotak Savings Fund - Direct Plan  | Invest Online
4 star
Jan-13 7.81 7.75 7.98 0.34 9,189
IDFC Ultra Short Term Fund - Direct Plan
4 star
Jul-18 7.53 -- -- 0.26 5,768

Best & Worst Performance

Best (Period) Worst (Period)
Week 1.44 (24-Mar-2020 - 31-Mar-2020) -0.89 (17-Mar-2020 - 24-Mar-2020)
Month 2.11 (24-Mar-2020 - 23-Apr-2020) -0.52 (25-Feb-2020 - 26-Mar-2020)
Quarter 3.53 (24-Mar-2020 - 24-Jun-2020) 0.32 (24-Dec-2019 - 24-Mar-2020)
Year 10.58 (26-Jul-2013 - 28-Jul-2014) 6.13 (25-Mar-2019 - 24-Mar-2020)

Risk Measures (%)

Mean Std Dev Sharpe Sortino Beta Alpha
Fund 7.40 0.58 3.59 8.31 1.09 3.43
CCIL T Bill Liquidity Weight 4.07 0.28 -4.34 -7.86 -- --
Debt: Ultra Short Duration 6.53 1.64 2.25 5.23 0.98 2.44
Rank within category 7 8 7 7 12 3
Number of funds in category 18 18 18 18 18 18

The Risk Measures have been calculated using calendar month returns for the last three years.

As on 30-Jun-2020

Portfolio Aggregates

Fund 1Y High 1Y Low Category
Number of Securities 31 45 31 31
Modified Duration (yrs) 0.44 0.52 0.38 0.40
Average Maturity (yrs) 0.45 0.54 0.40 0.46
Yield to Maturity (%) 3.80 6.46 3.80 4.95

Value Research Fund Style

Credit Rating vis-à-vis Category

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Top Holdings

Company Instrument Credit Rating 1Y Range % Assets
equal ICICI Bank 18/12/2020 Certificate of Deposit A1+ 0.00 - 9.59 7.53
up Export-Import Bank 2021 Certificate of Deposit A1+ 0.00 - 7.46 7.46
up 8.50% SIDBI 21/06/2021 Debenture AAA 0.00 - 5.32 5.32
equal 7.40% HDFC 17/11/2020 Non Convertible Debenture AAA 0.00 - 6.20 5.17
equal 6.95% Reliance Industries 14/12/2020 Debenture AAA 0.00 - 6.22 5.17
new Reliance Jio Infocomm 91-D 07/09/2020 Commercial Paper A1+ 0.00 - 5.07 5.07
new National Housing Bank 90-D 28/09/2020 Commercial Paper A1+ 0.00 - 5.06 5.06
equal Axis Bank 17/11/2020 Certificate of Deposit A1+ 0.00 - 6.01 5.03
equal 8.18% NTPC 31/12/2020 Bonds AAA 0.00 - 4.09 3.39
equal 9.02% LIC Housing Fin. 2020 Debenture AAA 0.00 - 3.12 2.60
equal 8.14% LIC Housing Fin. 2020 Debenture AAA 0.00 - 3.11 2.58
equal Kotak Mahindra Prime 264-D 20/07/2020 Commercial Paper A1+ 0.00 - 3.05 2.55
equal Kotak Mahindra Bank 22/09/2020 Certificate of Deposit A1+ 0.00 - 3.04 2.53
equal Axis Bank 2020 Certificate of Deposit A1+ 0.00 - 2.88 2.52
equal National Bank Agr. Rur. Devp 21/01/2021 Commercial Paper A1+ 0.00 - 2.98 2.50
equal Bank of Baroda 2021 Certificate of Deposit A1+ 0.00 - 2.98 2.49
equal National Bank Agr. Rur. Devp 2021 Certificate of Deposit A1+ 0.00 - 2.97 2.49
equal Reliance Industries 364-D 02/03/2021 Commercial Paper A1+ 0.00 - 2.94 2.48
equal HDFC 363-D 10/02/2021 Commercial Paper A1+ 0.00 - 2.95 2.48
new National Bank Agr. Rur. Devp 2021 Certificate of Deposit A1+ 0.00 - 2.46 2.46
new Bank of Baroda 28/05/2021 Certificate of Deposit A1+ 0.00 - 2.46 2.46
equal Reserve Bank of India 84-D 20/08/2020 Treasury Bills SOV 0.00 - 2.62 2.29
equal 8.00% Bajaj Finance 2020 Debenture AAA 0.00 - 2.49 2.06
equal First Business Receivable Trust Securitised Debt AAA 0.34 - 0.64 2.05
equal 8.36% REC 22/09/2020 Debenture AAA 0.00 - 1.56 1.29

up down equal Indicates an increase or decrease or no change in holding since last portfolio
new Indicates a new holding since last portfolio

As on 30-Jun-2020

Fund Manager

— Jalpan Shah since 30-Jun-2014

Education: Mr. Shah is a B.E. (Mechanical) and holds a PGDM.

Experience: Prior to joining L&T, he was associated with FIL Fund Management Private Limited (Dec 2007-Nov 2012), Lotus India Asset Management Company Private Limited (Sep 2007-Nov 2007) as a Research Analyst, UTI Asset Management Company Private Limited (July 2006-Aug 2007) as a Research Analyst and UTI Asset Management Company Private Limited(May 2004-June 2006) as a Sales & Marketing Manager.

Funds Managed:

— Shriram Ramanathan since 21-Mar-2020

Education: Shriram is a B.E. (Electrical), PGDBM from XLRI Jamshedpur and CFA.

Experience: Prior to joining L&T Mutual Fund he has worked with FIL Fund Management Pvt. Ltd., ING Investment Management, Zurich Asset Management Co., ICICI Ltd., and L&T Ltd.

Funds Managed:


0.00%

Change from previous, NAV as on 14-Jul-2020

Growth: ₹ 34.2270

Dividend Weekly: ₹ 11.2411

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Dividend Monthly: ₹ 13.1675

Dividend Daily: ₹ 10.5091

Bonus: ₹ 18.6960


Investment Strategy

The scheme seeks to provide regular and stable return and invests only in corporate bonds and government securities predominantly with a rating of AA or above.

Investment Details

Minimum Investment (₹) 10,000
Minimum Addl Investment (₹) 1,000
Minimum SIP Investment (₹) 1,000
Minimum No of Cheques 6
Minimum Withdrawal (₹) 500
Minimum Balance (₹) 500
Exit Load 0

Basic Details

Fund House: L&T Mutual Fund
Launch Date: 01-Jan-2013
Return Since Launch: 8.44%
Benchmark: NIFTY Ultra Short Duration Debt
Riskometer: Moderately Low
Type: Open-ended
Assets: ₹ 1,960 Cr (As on 30-Jun-2020)
Expense: 0.23% (As on 30-Jun-2020)
Risk Grade: Average
Return Grade: Average

Most Recent Dividends

Plan Record Date Dividend (₹ / Unit)  
Dividend Daily13-Jul-20200.0030

 10-Jul-20200.0016
 09-Jul-20200.0028
 08-Jul-20200.0029
 07-Jul-20200.0015
 06-Jul-20200.0038
 03-Jul-20200.0033
 02-Jul-20200.0010
 01-Jul-20200.0047
 30-Jun-20200.0016
 29-Jun-20200.0025
 26-Jun-20200.0030
 25-Jun-20200.0017
 24-Jun-20200.0020
 23-Jun-20200.0021
 22-Jun-20200.0017
 19-Jun-20200.0045
 18-Jun-20200.0041
 17-Jun-20200.0028
 16-Jun-20200.0044
 15-Jun-20200.0037
 12-Jun-20200.0050
 11-Jun-20200.0048
 10-Jun-20200.0025
 09-Jun-20200.0014
Dividend Weekly13-Jul-20200.0110

 06-Jul-20200.0136
 29-Jun-20200.0098
 22-Jun-20200.0140
 15-Jun-20200.0171
 08-Jun-20200.0039
 26-May-20200.0385
 18-May-20200.0309
 11-May-20200.0157
 04-May-20200.0162
 27-Apr-20200.0059
 20-Apr-20200.0344
 07-Apr-20200.0181
 30-Mar-20200.1130
 09-Mar-20200.0144
 02-Mar-20200.0058
 24-Feb-20200.0055
 17-Feb-20200.0081
 10-Feb-20200.0119
 03-Feb-20200.0074
 27-Jan-20200.0084
 20-Jan-20200.0071
 13-Jan-20200.0078
 06-Jan-20200.0107
 30-Dec-20190.0073
Dividend Monthly25-Jun-20200.0500

 26-May-20200.0800
 27-Apr-20200.0800
 26-Mar-20200.0576
 25-Feb-20200.0576
 27-Jan-20200.0576
 26-Dec-20190.0576
 25-Nov-20190.0576
 25-Oct-20190.0576
 25-Sep-20190.0576
 26-Aug-20190.0576
 25-Jul-20190.0504
 25-Jun-20190.0504
 27-May-20190.0504
 25-Apr-20190.0504
 25-Mar-20190.0504
 25-Feb-20190.0504
 25-Jan-20190.0504
 26-Dec-20180.0504
 26-Nov-20180.0504
 25-Oct-20180.0504
 25-Sep-20180.0504
 27-Aug-20180.0504
 25-Jul-20180.0504
 25-Jun-20180.0504
Dividend Half Yearly23-Mar-20160.1445

 29-Sep-20150.1300

Contact Information

AMC: L&T Investment Management Ltd

Address: Brindavan Plot No. 177, CST Road Kalina, Santacruz (East) Mumbai - 400098

Phone: 022-66554000 / 1800-2000-400

Fax: 022-66554002

Email: [email protected]

Website: http://www.lntmf.com

Registrar & Transfer Agent: Computer Age Management Services Ltd.

Address: 7th Floor, Tower II, Rayala Towers, 158, Anna Salai, Chennai - 600002

Phone: 1800-3010-6767 / 1800-419-7676

Fax: 044-30407101

Email: [email protected]

Website: www.camsonline.com

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Value Investing

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